Beyond the Frenzy of Inscripiton FOMO: A Comprehensive Overview of Bitcoin Ecosystem Infrastructure for Long-Term Business

2/1/2024, 7:49:11 AM
This article aims to take stock of various infrastructure projects within the Bitcoin ecosystem, offering insights into the potential emerging landscape of the inscription infrastructure ecosystem.

Amidst the ongoing FOMO (Fear of Missing Out) surrounding Bitcoin inscriptions, manually participating in new inscription projects on the blockchain has quickly become a crowded space. However, learning from history, similar to the meme animal market back in the day, the majority of these projects may only experience short-term prosperity. Ultimately, only a handful of top projects within the Bitcoin and other public blockchain ecosystems are likely to endure. Against this backdrop, apart from the dazzling array of new inscription projects, infrastructure that facilitates these projects could naturally become a long-term business. With the continuous development of the Bitcoin ecosystem, it has become an essential need within the crypto space. This article aims to take stock of the infrastructure projects in the Bitcoin ecosystem, offering a glimpse into the potentially evolving landscape of inscription infrastructure.

Inventory of Bitcoin Ecosystem Inscription Infrastructure

Projects related to the Bitcoin ecosystem and inscription infrastructure cover various areas, including wallets, cross-chain solutions, trading markets, minting tools, data & queries, and more.

wallet

Unisat(https://twitter.com/unisat_wallet)

Unisat is a non-custodial open source Bitcoin Inscription plug-in wallet. It is also the first Inscription plug-in wallet to integrate Ordinals. It supports Ordinals and BRC20 and can help users store, mint and transfer BRC20 tokens, including buying and selling BTC, NFT, domain names, etc. .

OKX Web3 Wallet (https://www.okx.com/cn/web3)

Since the beginning of this year, OKX Web3 wallet has set an example in overtaking this year’s trading platform. It has taken the lead in supporting the trading and staking of BRC20 inscriptions and BTC NFT, bringing a large amount of traffic to its wallet. Among them, it has successively supported BRC20 inscription and BTC NFT transactions and stakings, and launched the Bitcoin ecological standard BRC20-S, inscription tools and other components, making a lot of contributions to the open source development of the Bitcoin inscription track, allowing more users to smoothly enter the Ordinals market.

Xverse(https://xverse.app/)

Developed by Secret Key Labs, Xverse is a non-KYC Bitcoin wallet that supports Ordinals and BRC-20 tokens as well as Bitcoin smart contract platform Stacks, and will also support the Bitcoin Lightning Network in the future.

Odinals Wallet(https://ordinalswallet.com/)

Launched in February this year, Ordinals Wallet is a non-custodial BTC wallet that allows users to view and store BTC and Ordinals NFTs, while supporting various Ordinals-related operations such as transfers, sending, registration, buying and selling, and more. The Ordinals Wallet mnemonic phrase will be generated and stored locally on the computer and encrypted in the browser, and users can create and transfer Ordinals NFTs directly from the wallet and list BRC-20 tokens on the Ordinals Wallet marketplace.

Hiro Wallet(https://wallet.hiro.so/)

As a wallet developed based on Stacks, Hiro Wallet already supports storing and viewing Bitcoins and Ordinals, and allows users to manage their STX and other assets (such as BNS domain names and NFTs) across accounts, while supporting all assets that can be sent to Bitcoin addresses.

Launchpad

TurtSat(https://twitter.com/Turtsat)

Turtsat is a community-driven open platform aiming to be the Gitcoin for Ordinal. Through Turtsat, a space is provided for building, donating, and influencing Bitcoin Ordinal & BRC-20. Luminex (https://luminex.io/), serving as the Launchpad platform for Bitcoin Ordinals, is dedicated to introducing Bitcoin Ordinals and BRC20 projects into the Bitcoin ecosystem. Users can engage in scalable, non-custodial minting and access services such as image optimization, various whitelist level creations, and marketing support.

Bounce Brand(https://twitter.com/bounce_finance)

Bounce Brand (formerly Bounce Finance) is a decentralized auction protocol designed to provide users with the ability to create and participate in various types of auctions on multiple blockchain networks. Recently, it has received a lot of attention due to the successive auctions of Bitcoin-related concept projects such as MultiBit (MUBI) and Bitstable (BSSB), and has achieved amazing profits. On the other hand, in early December, Bounce Brand launched BounceBit, a DeFi solution designed for the Bitcoin ecosystem. It introduced the Bitcoin-pegged coin BTCB to increase Bitcoin liquidity, positioning itself as a project within the Bitcoin ecosystem. Due to the popularity of Bitcoin-related concepts and being one of the few Bitcoin ecosystem projects listed on BN, it gained significant attention. However, recently, its popularity took a hit as reports surfaced about continuous selling of its new project, bDID, leading to a price collapse and even influencing the downturn of other assets such as auction and mubi.

Cross-chain

MultiBit (https://multibit.exchange/)

MultiBit is a cross-chain protocol between BRC20 and ERC20. It is based on the BRC20 two-way cross-chain bridge design and aims to realize cross-chain transmission between BRC20 and ERC20 tokens.

Analysoor(https://twitter.com/analysoor)

Analysoor is a cross-chain protocol on Solana for inscriptions, aiming to address the fair release and liquidity guidance issues of memes and NFTs. The first project, ZERO, adopts a unique lottery-based winning mechanism (9.5% winning rate), using SOL as the lottery token, attracting significant attention. The second project, ONE, has also completed minting through a lottery mechanism. As of yesterday, 95% of Analysoor’s NFTs have been distributed, with 25,000 participants in the minting process. Discord plans to open access for ZERO and ONE holders today. In the future, Analysoor will no longer distribute tokens but will provide Launchpad services to other projects, transitioning into a LaunchPad platform.

TeleportDAO (https://twitter.com/Teleport_DAO)

TeleportDAO is a cross-chain Ordinals marketplace, currently consisting of two main products: TeleSwap, a multi-chain BTC cross-chain trading protocol that facilitates the transfer and trading of assets across BTC and Polygon; and TeleOrdinal, an Ordinals trading marketplace.

Marketplace

OKX Ordinals Market (https://www.okx.com/cn/web3/marketplace/ordinals/brc20)

The Ordinals marketplace on the OKX Web3 wallet, serving as the top BRC20 inscription and BTC NFT trading platform, is fully decentralized, with platform service fees completely eliminated. It supports a one-stop solution for functions such as transfer, trading, and engraving of BRC-20 and BTC NFT. As of last week, the total trading volume on the OKX Web3 wallet Ordinals marketplace has surpassed $500 million, with the total trading volume for Ordinals protocols nearing $865 million. OKX Web3 wallet accounts for approximately 58% of this total. Currently, the user experience on OKX Web3 marketplace, including order placement and transaction speed, is superior to the Unisat marketplace.

Unisat Marketplace(https://twitter.com/unisat_wallet)

Unisat Marketplace is an Inscriptions market based on PSBT and supporting BRC-20 assets on Unisat’s Bitcoin chain. In November, it ranked fourth in the NFT market with a transaction volume of US$41 million.

Market Ordinals(https://ordinals.market/)

Ordinals Market is a Bitcoin inscription trading market that supports users to use wallets such as Bitcoin Inscription transactions on the Ethereum blockchain.

Ordswap(https://relayx.com/)

Ordswap is a trustless Ordinals market built on Bitcoin that allows users to register, buy, sell and auction Bitcoin NFTs.

Magic Eden Bitcoin(https://magiceden.io/ordinals)

Magic Eden Bitcoin is a Bitcoin ecological NFT market launched in March this year that allows users to list, buy and sell Ordinals. In addition, Magic Eden has also launched the Bitcoin Launchpad, which aims to help creators launch the Ordinals protocol and create Bitcoin NFTs directly on the Magic Eden Launchpad. Currently, some new Bitcoin NFTs generally choose to be listed on Magic Eden.

Orders Exchange(https://orders.exchange/)

Orders Exchange is a BRC20 token decentralized exchange built on Bitcoin PSBT technology.

Casting tools

Looksordinal (https://looksordinal.com/) is a self-hosted BRC20 token minting auxiliary tool. It supports users in creating all necessary addresses in the browser for generating inscriptions controlled by the users themselves.

iDclub(https://www.idclub.io/home)

iDclub, as a minting platform for BRC20 tokens, supports users in engraving Ordinals NFTs and inscriptions on the Bitcoin chain. It has also expanded to launch a trading marketplace, allowing users to buy and sell Ordinals inscriptions.

CoinTool(https://cointool.app/dashboard)C

As an on-chain tool set, oinTool has also launched a series of tools for multi-chain inscription casting and monitoring, including EVM multi-wallet batch engraving, SOL batch inscription, Tron multi-wallet batch inscription, IOST batch inscription and other services.

MCT(https://mct.xyz/livescribe)

MCT is a multi-chain inscription engraving protocol that covers real-time monitoring of inscription projects on more than 20 public chains such as Bitcoin, Ethereum, Solana, and Sui, and supports users to perform batch engraving, covering all EVM chains and blockchain networks such as Tron. .

BIIS (https://twitter.com/BIIS_official)

BIIS aims to create the ultimate integrated technical stack for BRC20 tokens, positioning itself as a “BRC Ecosystem Toolbox” for developers and users. It provides a comprehensive set of integrated tools for project developers and users, including batch distribution and collection of BRC20 tokens, batch distribution and collection of BRC-721 NFT assets, and more. In the future, it plans to launch a fully automated asset issuance platform, supporting various asset issuance modes such as Free Mint, AirDrop, and IDO. Additionally, it will offer a token Dao voting system for project owners, enabling automated project release and decentralized community governance. Currently, BIIS has received strategic investments from Japanese cryptocurrency investment firm CGV and KuCoin Labs.

Data query

Mempool (https://mempool.space/zh/)

Mempool focuses on mempool and blockchain explorer functions for the Bitcoin community. It provides real-time transaction status and data, allowing users to view the current status of pending transactions. It is mainly used to query the transaction confirmation status on the chain and the current real-time Gas fee. Bitcoin generally produces a block every 10 minutes. You can use this to determine the current block production status - whether the block is stuck. If the gas is too high, is it due to the block being stuck or is it caused by activity on the chain? This can be used to determine how much gas to give.

Ordiscan (https://ordiscan.com/)

Ordiscan is an Ordinals browser that allows users to query serial numbers and inscriptions on Bitcoin, and also search for corresponding inscriptions and addresses.

BRC-20.io (https://www.brc-20.io/)

BRC-20.io is a token data platform focused on Bitcoin inscriptions. It provides users with real-time price tracking for various BRC-20 tokens, enabling them to stay informed about the latest market trends. The platform has also recently launched new products, BRC20 DEX and DeFi Center.

OrdSpace (https://ordspace.org/brc20)

OrdSpace is a data insights and analytics platform for Ordinals that uses multi-dimensional data to recalculate the rankings of all BRC-20 tokens. At present, the new product 20scan has officially provided API services (beta version) to the public, allowing developers to quickly build their own projects in the ORC-20 system.

Ordinals Directory (https://ordinalsdirectory.com/)

Ordinals Directory is a comprehensive platform for NFT series dedicated to Ordinals. It serves as a hub for collectors to discover popular and new collections, as well as analyze underlying price data.

Best in Slot (https://bestinslot.xyz/) functions as an aggregation and browser for Ordinals. It enables users to instantly view all Bitcoin inscriptions along with detailed information, including updates on popular and latest inscriptions, facilitating direct and immediate interaction.

GeniiData (https://twitter.com/GeniiData)

GeniiData is an Ordinals ecosystem data analysis platform that provides popularity indices and ranking data for BRC20 tokens. It supports users in capturing real-time minting information for trending inscriptions and NFTs. Additionally, it has introduced ORC-20 index services, showcasing information related to ORC-20 token deployments, including details like maximum supply, current minting status, upgradeability, ORC-20 token holder information, transaction history recording, and the capability to verify transaction statuses.

Whatscription (https://whatscription.com/)

Whatscription is a multi-chain inscription monitoring protocol that supports users to track and query the inscription casting status on Bitcoin, Ethereum, EOS, Polygon, Linea and other chains in real time. OrdinalHub (https://ordinalhub.com/) is a one-stop data platform that integrates discovering, tracking and analyzing Bitcoin NFTs. It is committed to helping users gain advantages in inscription trading and quickly find new trends.

Summary

The wave of inscriptions has funneled an enormous amount of capital, users, and developers into the Bitcoin ecosystem through the channel of inscriptions. While traditional Bitcoin possessed the “orthodox cognition” and total market value advantage, the inscription trend has significantly increased the richness of new assets in the Bitcoin ecosystem. Simultaneously, it indirectly raises the number of developers and user bases. Therefore, regardless of when the inscription trend returns to calm, the entire Bitcoin ecosystem has attracted sufficient funds and attention. This will give rise to numerous opportunities for accumulation, development, and sharing of dividends. From this perspective, the long-term value of the Bitcoin ecosystem and inscription infrastructure is relatively high. A surge in projects related to Bitcoin infrastructure is inevitable and worthy of long-term attention.

Disclaimer:

  1. This article is reprinted from [web3中文]. All copyrights belong to the original author [Web3CN]. If there are objections to this reprint, please contact the Gate Learn team, and they will handle it promptly.
  2. Liability Disclaimer: The views and opinions expressed in this article are solely those of the author and do not constitute any investment advice.
  3. Translations of the article into other languages are done by the Gate Learn team. Unless mentioned, copying, distributing, or plagiarizing the translated articles is prohibited.

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